Thursday, June 5, 2014

Revamped Pinkcoin - A fairer approach to anonymous transfers

There are many coins claiming to be working on anonymous transactions. Anon is still the latest trend, the hype in town. Everybody is trying to beat what Darkcoin (DRK) accomplished with their anonymization concept. A lot of voices out there claim that DRK is not fully anonymous and therefore there is a race to create something that's even more invisible for those prying eyes. Some coins are simple scams, like Voot recently.

One coin working on anon is Pinkcoin (PC). What I like about Pinkcoin is that they are sharing their progress with the public and they have a beta version out. That's a fair approach. This team is giving me the impression that they are really behind their coin and are trying to establish something solid. Considering PC has a market cap of around $100k it should definitely be considered as undervalued. I'm looking forward to more news from them.

Laugh or cry?


On the other hand the newcomer Cryptcoin (CRY), for example, is working the other way around. So far they have only been showing new logos and mentioning that they have something better coming out, but there is no single proof of evindence to back that up (at least that I know of). Let me know if I am wrong. Not giving visibility into your development work is irresponsible in my opinion, they are playing around with people's money. The price of CRY has skyrocketed and people have been panic buying without knowing what they are getting into. If it turns out to be a scam, which I hope it will not, then it will be a loss for many and the cypto community as a whole.

Do exchanges have a responsibility?


I think it is also about time that the exchanges out there with large shares of new coins take a look at what coins they are about to bring onboard before they do it. There has recently (but not only) been many scams. A good exchange would do some kind of due diligence.

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